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Http://www.senate.gov/~thompson/scandspch.html
"SCANDAL, CORRUPTION, and the RULE of LAW"
Presented before the CATO Institute
By Senator Fred Thompson
Wednesday, July 12, 2000
______________________________________________________________
Date: 98-03-04 22:52:14 EST
From: RAbshire
To: senator_thompson@thompson.senate.gov
CC: senator_hatch@hatch.senate.gov
CC: grannis@assembly.state.ny.us
CC: chairmanoffice@sec.gov
CC: walter.ricciardi@us.coopers.com
CC: Chris.Harris@senate.state.tx.us
Dear Senator Thompson,
My brother held the Navy Cross, a Silver Star and 39 Air Medals when he was run over and killed by a drunk driver. His only child now lives in Tennessee and owns an insurance policy he purchased for her prior to his death. Can you help me get the New York Department of Insurance to answer my Freedom of Information requests?
Respectfully,
R. Dale Abshire
4316 Pembrooke Pkwy N.
Colleyville, Texas 76034
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On Feb. 6, 1996 Dan Rather's "Eye on America" aired a false and misleading program about MONY. The next day MONY issued a retraction blaming CBS for the misinformation and shortly thereafter implemented further cost reductions and eliminated another 300 jobs. On October 4, 1996 CBS attorney Mr. Michael Albeth returned my call to Dan Rather. He informed me that CBS would go to great lengths to keep me from finding out whether Mr. Rather and CBS had received a copy of MONY'S retraction and knew the program was false and misleading.
Mr. Rather and CBS ran behind their lawyers and refused to comment and did nothing to correct their part in misinforming the public! Misinforming Americans is wrong! Knowing you misinformed Americans and doing nothing about is disgusting to say the least!
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Date: 8/13/99
To: Florence.Shapiro@senate.state.tx.us
CC: jose_montemayor@tdi.state.tx.us
CC: cmcnenny@doi.state.in.us, heyld@sec.gov
The Honorable Florence Shapiro
2901 Dallas Parkway suite 330
Plano, Texas 75093 August 13, 1999
via fax: 972 378-3718
Dear Senator Shapiro:
Your constituents have received, via the U. S. Mail, a solicitation letter (Exhibit A) to purchase stock in The MONY Group Inc.....
Please consider this as a report of "suspected fraud" as mandated by Article 1.10D of the Texas Insurance Code. Enclosed and marked as Exhibit B is a copy of a letter from the Arizona Department of Insurance detailing financial transactions between MONY and Coopers & Lybrand / PricewaterhouseCoopers L.L.P. from 1994 through August of 1998. Exhibit C is a copy of the Actuarial Opinion signed by Mr. Jesse M. Schwartz of PricewaterhouseCoopers L.L.P. that was filed with MONY's demutualization documents and mailed to all policyholders in the solicitation of their vote on demutualization. Exhibit D is the first and last page of the 1997 New York / N.A.I.C. examination of MONY that is on file at the Texas Department of Insurance.
Coopers & Lybrand / PWC have issued "Unqualified Opinion Letters" on MONY's financial statements falsely claiming to be "Independent" when they are clearly not as detailed in Exhibit B.
Mr. Schwartz who signed Exhibit C is in fact a former Actuary and MONY employee who was responsible for the creation of the MONY products that were used to defraud your constituent, Mr. Andrew Brown. Mr. Schwartz has in fact rendered an opinion on his own work. Work that according to the Connecticut Department of Insurance used unrealistic projections of 10.5 to 11.5%.
Exhibit D, the last audit of MONY, is a fraud. As previously indicated in the McNenny letter in your file, the New York Department of Insurance used a fraudulent signature page to authenticate a government record and hide the true financial condition of MONY.
The author of Exhibit A, Mr. Michael I. Roth, is a former partner at Coopers and Lybrand L.L.P. and is fully aware that MONY's financial statements are false and lack the proper certification of independent accountants as required. His failure to disclose this information in his solicitation is impermissible and immediate action should be taken to protect the public.
If you have any difficulty with the accounting issues, I can give you the names of some of your other constituents who are CPAs as well as MONY policyholders that will be glad to answer your questions.
Respectfully,
R. Dale Abshire
4316 Pembrooke Pkwy N.
Colleyville, Texas 76034
NOTE: Senator has admitted that she took no action with regard to the above fraud report and that she has accepted political contributions from MONY's lawyers. She also voted to approve the appointment of Jose Montemayor as Texas Insurance Commission with the full knowledge that he was deeply involved with the cover-up of MONY's fraudulent financial statements!
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Senator Kay Bailey Hutchison has helped hide MONY's fraudulent financial statements and the looting of the company! She personally profited from the illegal acts while thousands of her constituents were being defrauded! Senator Hutchison actually produced a copy of the audit of MONY that disclosed more than $600,000,000 in illegal transactions and claimed it was an accurate financial statement for the company! She could not explain the $687,000 that had been paid to her husband's law firm and not disclosed, as required by law, on the 1994 Schedule J filed in Texas.
According to independent cpa reports on file with the Texas Department of Insurance and in former Governor George W. Bush's office, A. Frank Smith, a Vinson and Elkins partner, was on MONY's Board when MONY first started filing fraudulent financial statements. The sworn affidavit of Bush Team endorsed CPA, R. Larry Johnson is posted on www.MONYBUSH.com. Additional information is available @ www.MONYINTERNATIONAL.com and MONYSUCKS.com
Webster Hubbell went to prison for less than this.....
Quote from Wassell v MONY
"MONY's counsel's time is not only excessive, but in at least some respects appears suspect. For example, on March 19, 1996, Shadow Sloan, a Vinson & Elkins associate billed time while in New York for "telephone conference with John McCole...." On its face, this entry seems reasonable; John McCole was the former manager of MONY's Scranton, Pennsylvania agency where Wassell worked as a sales manager. The problem with Ms. Sloan's time entry, however, is that John McCole died in 1994. The fact that Ms. Sloan is billing MONY for time on March 19, 1996 for "telephone conference" with a dead man at least raises curiosity regarding the veracity of MONY's counsel's bills."
Account Number MUT750 81007
Billing Attorney Douglas E. Hamel
Invoice Number 1211137
3/19/96 SSL0 Meet with Paul Yacyahyn, to work on discovery 9.00
responses / telephone conferences with John McCole
and Bob Fete: review documents regarding
Note 4: If Ms. Sloan actually spoke with Mr. McCole in 1996, then her hourly rate should be higher than a meager $203.00 per/hr.
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Texas Rep. Vicki Truitt has accepted political contributions from lawyers representing MONY with the knowledge that MONY has been filing fraudulent financial statements in Texas for more than 15 years and that thousands of her constituents have been the victims of a fraud that has been described by the Massachusetts Insurance Fraud Bureau as possibly the largest insurance fraud case in history.
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Senator Fred Thompson, whose military record consists of....Hunt for Red October with Sean Connery...Flight of the Intruder with Danny Glover and William Dafoe....and Aces:Iron Eagle III with Lou Gossett, Jr., refused to help his own constituent, the orphaned child of a decorated war hero who had been defrauded of 100s of thousands of dollars at the hands of thugs! The Freedom of Information request concerned falsified expense vouchers being used by MONY management to make illegal campaign contributions to elected officials!
Date: 7/21/99
To: senator_thompson@thompson.senate.gov
CC: chairmanoffice@sec.gov, heyld@sec.gov
CC: Florence.Shapiro@senate.state.tx.us
CC: (GMckay@mail.state.tn.us)
File: C:\WINDOWS\DOCUME~1\SHAPIRO3.TXT (9451 bytes)
DL Time (28800 bps): < 1 minute
The Honorable Fred Thompson
United States Senator
State of Tennessee July 21, 1999
Dear Senator Thompson:
Re: 3/4/98 request/attached
You referred the above referenced request to Senator Kay Bailey Hutchison for response out of senatorial courtesy. She did not respond. For your records I submit a copy of a July 6, 1999 letter to Governor Jesse Ventura requesting his help. There is little, if any, doubt that Mr. Arthur Levitt and members of the SEC have knowingly allowed Goldman Sachs to take MONY public with false financial statements, false opinion letters, false actuarial opinions and false examination reports fabricated by the New York Department of Insurance.
Thousands of your constituents have suffered the same loses as Mr. Brown who is mentioned in the "McNenny" letter that is attached to the letter to Governor Ventura.
I am also attaching a copy of a letter to Mr. Brown's State Senator, Ms. Florence Shapiro.
Can you help me obtain an accurate and properly opined financial statement for MONY and an explanation from the SEC for their having allowed this to happen?
Respectfully,
R. Dale Abshire
4316 Pembrooke Pkwy N.
Colleyville, Texas 76034
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